The InterGalactic Banking Clan (also known as the InterGalactic Bank Clan or the IG Banking Clan and often abbreviated to IGBC or IBC) was one of the Republic's most powerful and influential commerce guilds. It was a union of Muunilinst's ruling Council of Banking Clans and several other banking powers. Its name likely referred to its extragalactic influence—it was known that the Banking Clan controlled assets as far as halfway between the galaxy and its nearest satellite galaxy.

Contents

The InterGalactic Banking Clan operated by helping control incredible amounts of credits, data, and other forms of currency that flowed through the galaxy. This ancient institution ventures were controlled by key representatives of the old banking families. It extended its financial services to many of the major commercial guilds in the galaxy.[2] The IBC had their own data-server that allowed clients to access to the banking clan's datacom-net.[3]

Accompanying IBC staff were soldiers from Iotra that wore garnish body armor and carried ceremonial weapons.[1] Whilst showing the facade to be a consumer friendly organization, this IGBC maintained a sizable droid and Iotran military known as the Collections and Security Division.[2] Amongst their combat automation included the hoop-wheeled Hailfire droids that were used exclusively by the Banking Clan's Collections and Security division[4] and being the property of IBC executives.[5] These hoop-wheeled droids made loan agreements proceed to a chillingly expedient pace.[2]

Members of the IBC included financiers, accounts and lawyers that were dressed in signatory Palo fiduciary garb with formfitting green trousers and boots, round-collared green tunics and flare-shouldered green cloaks. Within the hierarchy of the Banking Clan, leading positions included the Muunilinst High Officer, the Administrator the treasure world of Mygeeto, the Director of the Treasury Branch and [1] the Vice-Chair of Communications,[5] with the Chairman of the Banking Clan at the top of the corporate hierarchy.[1]

"The IBC will be essential in financing the war we will slowly foment. We will need the Banking Clan to finance the manufacturers of weapons and to sustain an alternative economy for the eventual enemies of the Republic."

The IGBC was already a powerful institution by 1000 BBY, and was known for being far more honest in transactions than Core-based banks such as on Sestria.[source?] At some point, the Banking Clan established Aargau as one of its key worlds that rested in the Core Worlds boundaries.[7] During the New Sith Wars era, the Sith LordQordis embezzled funds from the Brotherhood of Darkness in order to pay for his avarice and kept them in an anonymous account used by the InterGalactic Banking Clan where he stored these funds.[8]

The IGBC was an important part of the Sith's Grand Plan and was used by Sith Lord Hego Damask to finance much of the Plan, including the creation of the secret Army on Kamino, weapons manufacturers for both sides and to ensure the eventual secession movement could maintain an alternative economy. Damask also tutored his friend's son San Hill in preparation for his accession to the Chairmanship of the Clan.[1]

"We are certain that an equitable compromise can be reached. The IBC has known Separatist connections. Perhaps if they reduced the number of armed combat droids on the premises, we would not feel the need to be as protective of Republic assets."

During the years of the Separatist Crisis, the IBC data-server spread Separatist propaganda when clients accessed the datacom-net where messages of secession and Senate reform were stated with the signature of CountDooku. This led to MerenData sending skilled slicers to examine the server and purge the system. The Senate Bureau of Intelligence dismissed the propanda as a hoax whilst the Banking Clan assured investors that their systems were secure.[3] In 22 BBY, the IGBC experienced its 18th straight quarter with increasing profits. It was creating new currencies at a rate of twenty per day, with the InterGalactic Currency Exchange System managing the currency. Vice-Chair of CommunicationsLo Vapeet even went as far to offer the next 500 registrants who were approved currencies a deluxe six-slot therma-slice. This plan helped the IGBC with their new partners in finance for the upcoming Clone Wars.[9]

In this time, SenatorAks Moe of Malastare intended to meet with representatives of the IBC in order to discuss possible funding options for a proposed Republic Military initiative. However, his speeder's power plant overloaded and exploded which killed the Gran. The Banking Clan's representatives had not announced the cost of damages nor the accumulated interest caused by the accident.[7] Allegations later came of the IBC arming the Separatists after a bulk freighter destined for Praesitlyn was detained by Eriadu Customs that contained 144 Hailfire droids. Banking Clan spokesbeings denied any involvement or knowledge of the intercepted shipment and claimed that the droids were stolen equipment.[4]

At an unknown point during the Separatist Crisis, Chancellor Palpatine secretly opened several accounts in which he secretly subverted whole-planetary funds to be used at a later point, tax-free and account-free, so that several corporations affiliated with the IGBC (including Yarrow Industries) could profit. In exchange of that, the IGBC supported the Chancellor in the Galactic Senate in a moment when the not-yet-Emperor still needed that support. To carry out this project, Palpatine secretly expended billions of credits from several planets. The whole plot was discovered by journalist Keets Freely, but he was unable to publish it.[10]

The InterGalactic Banking Clan benefited greatly from the economic turbulence that accompanied the Separatist movement. This was because it became the most prominent lending institution that many new independent worlds turned to for economic assistance.[2]

During the Clone Wars, the IGBC supplied its security forces including its battle droids to the Confederacy of Independent Systems. Among its battle droids were the IG lancer combat droids, which were more advanced than the more common BaktoidB1 battle droids. These droids had actually been developed by Phlut Design Systems, a Muunilinst-based weapons development firm that had taken out a large capital investment loan from the IGBC. PDS found itself unable to repay the IGBC, and, in response, the IGBC seized the company's assets, adding the IG lancer droids to the military forces of the CIS. The IGBC sold the company's further plans for the IG-series to Holowan Mechanicals. The IGBC later commissioned Holowan Mechanicals to manufacture GeneralGrievous's elite IG-100 MagnaGuards. This business entity was noted to have allied itself with the growing Separatist movement in the galaxy. The IBC Chairman, San Hill, personally committed his forces to the Confederacy of Independent Systems in a non-exclusive pact that allowed the Banking Clan to profit from both ends of the war by serving the Republic as well as the Separatists.[2] During this time, a Republic inspection team was sent to discover the origins of the Hailfire Droids captured on Geonosis and believing them to be from the IBC Arcology manufacturing plants. [5]

The highest ranks of the InterGalactic Banking Clan were involved in eight months of diplomatic dialogue over the Republic posting military forces within the neutral territories of Aargau. This came after the disappearance of the Republic inspection team on the world and saw Republic DiplomatGaddatha In'Kro attempt to relieve tensions by pointing to IBC ties to the Separatist Alliance.[5] During the Battle of Muunilinst, Banking Clan droids were attacked by Republic forces. Durge would later lead the IGBC's new IG lancer droids. Durge was defeated, however, and San Hill and his advisors were captured. San Hill would later be given the opportunity to escape Republic captivity.

Bail Prestor Organa reviews the high interest rate the IGBC will charge after deregulation of the banks

In the Galactic Senate, the IGBC's interests were represented by SenatorRush Clovis, a human from the planet Scipio, though his dealings with Lott Dod and their plot to construct droid factories for the Separatist Droid Army were exposed. Despite this the Clan was tolerated by the Republic throughout the war. It retained representation in the Senate as the Clan was too important to the Republic economy to be persecuted, and like the Trade Federation it continued to argue that it was merely conducting business with both sides in a neutral manner.[11] The Galactic Senate passed legislation to de-regulate the Banking Clan in order to open up new lines of credit to fund an expansion of the military.[12]

At some point after the Battle of Muunilinst, the IGBC headquarters were moved to Scipio, though the banks remained under the authority of the Muun government.[13][14][15] Rush Clovis and Padmé Amidala uncovered evidence of corruption within the Clan,[13] which forced the Republic and the Separatists to conduct a temporary truce so as to appoint new leadership. Rush Clovis was chosen as the new head of the IGBC.[14] However, Count Dooku, who secretly endorsed Clovis' ascension, blackmailed him into levying debts against the Republic, leading to the GAR to evict the droid army from Scipio. In the aftermath of Clovis's death during the battle, the banks were placed under the control of Supreme Chancellor Palpatine. Unbeknownst to everyone, this was all a Sith plot for Palpatine's alter-ego, Darth Sidious, to gain more political power for his eventual galactic takeover.[15] It continued to back and profiteer both sides during the war.

The IGBC also funded Grievous's reconstruction in exchange for his services as a collections agent. The same technology would later be used to save the life of Darth Vader.

Despite the death of Chairman Hill at Mustafar, the IGBC escaped the fate of many of its co-conspirators and managed to survive into the Imperial era, becoming the creditor for the Empire's restructured currency. The Clan's continued existence was merely a matter of necessity, for the Imperials did fear the potential of a galactic recession. Imperial decrees, however, favored the Human-controlled and dominated banking organizations, which limited Muun power over the Imperial economy. [source?] Imperial forces, which included a corps of administrative personnel, were placed to watch over the InterGalactic Banking Clan's activities.[16]

Though the Empire kept a tight watch on the IGBC, the Clan never considered switching their support to the Rebel Alliance, feeling that they could credit both if it came to that.

After the establishment of the New Republic, the IGBC did become the creditor of both governments.